First three months of 2017 Roadshow presentation

1. NNIT
Q1 2017
May 18, 2017

2. The NNIT Presenting Team
2
Jesper Wagener
Head of Investor Relations
Carsten Krogsgaard
Thomsen
Chief Financial Officer
Per Ove Kogut
Chief Executive Officer

3. Agenda
3
Highlights for first quarter 2017
Sales and backlog
Financial performance
Outlook for 2017

4. Forward looking statements
This presentation contains forward-looking statements. Words such as ‘believe’, ‘expect’,
‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’,
‘intend’, ‘outlook’, ‘guidance’, ‘target’ and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance identify
forward-looking statements. Statements regarding the future are subject to risks and
uncertainties that may result in considerable deviations from the outlook set forth.
Furthermore, some of these expectations are based on assumptions regarding future
events which may prove incorrect.
4

5. Q1 2017 at a glance
5
Revenue
DKK 715m
Operating profit
DKK 73m
Operating profit margin
10.2%
Net profit
DKK 56m
Order backlog
DKK 2,385m
Free cash flow
DKK 142m
+4.3%+8.0% -0.4pp
+4.8%+8.9% +DKK 11m
+7.9% organic* +3.4% organic* -0.4pp organic*
*Organic is growth in constant currencies using Q1 2016 average exchange rates

6. Backlog development
Backlog for 2017 is DKK 2,385m, which is an increase
of 4.8% compared to same time in 2016:
• New customers in the enterprise and life sciences
customer groups
• Expansion of contracts with existing customers
in the enterprise customer group
• Partly countered by a lower backlog with the Novo
Nordisk Group
The backlog for 2018 and 2019 decreased
16.1% y-o-y to DKK 2,013m:
• The announced renewal of the Novo Nordisk global
infrastructure agreement is not included in the
backlog
• The backlog only decreases with around 3% if
the renewal is included
• Several large outsourcing contracts expire in 2017
and 2018 and are not yet renegotiated or retendered
• All renewals or replacements of these contracts will
increase the backlog
6
-2.4%
-31.6%
-3.8%
12.7%

7. Major wins
7
Amount Length
(DKK million) (years)
Q2 2017
Global infrastructure agreement
(Company announcement 4/2017 5 May)
Life sciences Novo Nordisk Around one billion 6
Small-double-digit 4
Onsite support contract
Prolongation of operation outsourcing
Medium-double-digit 4
Contract Segment Client
Q1
2017
Enterprise
Existing
customer
Enterprise
Existing
customer

8. Novo Nordisk Infrastructure agreement
8
The agreement covers Novo Nordisk's global IT infrastructure and further supports the pharmaceutical
company's cloud strategy.
Contract size is around DKK 1 billion over 6 years starting January 1, 2017.
The contract replaces the former contract covering January 1, 2013 to December 31, 2017.
Due to the commitment and length of the contract has build in efficiency measures, which enable NNIT to
provide a high quality service combined with a competitive price, providing Novo Nordisk with a declining
price over time. This in in-line with general practice in the market.
The contract size will increase with future growth, which is not included in the baseline of DKK 1 billion.
These are typical elements of long-term, outsourcing contracts
The length and scope of the contract allows NNIT to:
• Further optimize on the delivery through automation and operational excellence
• Include new and efficient technologies, innovation and cloud
• Increase offshoring and further leveraging NNIT’s Global Delivery Model
The contract will serve as a platform for the continued strategic cooperation between Novo Nordisk and
NNIT and provides a foundation for further global cooperation, e.g. through standardized global services,
increased security services, transformational services e.g. Future Digital Workplaces and cloud services.
The new contract does not change NNIT’s guidance for 2017 since NNIT’s guidance in the annual report for
2016 was based on an expected outcome, which is close to the signed agreement.

9. SCALES acquisition – in overview
9
Acquisition price consists of:
 An upfront payment of DKK 122m of which 85% is in cash and 15% in NNIT shares
 An earnout target of DKK 52m with an earnout range of 0-130% of target depending
on performance in EBITDA, additional revenue in application outsourcing in NNIT as
well as employee attrition rate
 Earnout period is 2017-2019 and earnout is paid 85% in cash and 15% in NNIT shares
 June 1, 2017 SCALES will be a part of the NNIT Group under the name “SCALES, an
NNIT Group company”
 The acquisition is expected to increase NNIT’s 2017 full year revenue growth by
around 3 percentage points and is expected to have a slightly positive impact on
NNIT’s operating profit margin
Transaction
details
 SCALES Group will continue its current business, while working together with NNIT on
new business opportunities within larger projects and application outsourcing
 SCALES will report to the NNIT Solutions division and will be included in NNIT Solutions
division reporting
Organization
Synergies  Revenue - full stack within Dynamics AX – will be primary synergy
 NNIT offshore center in Philippines can be utilized within development, life cycle care
and on-going maintenance and updates
 Due to the lean setup at SCALES Group only limited cost synergies exist

10. SCALES Group – an overview
10
• Founded in 2011
• One of the largest Dynamics AX
consultancies in Denmark – a
recognized Microsoft partner
• The leading Dynamics 365
consultancy in the Nordic
region
• 113 AX consultants in Denmark
and Norway
• Strong profitable growth track
record
• Strong cultural fit to NNIT
• NNIT partner on Widex and
PANDORA deliveries
11Dynamics AX 365
platform
implementations
completed or ongoing
(most in Scandinavia)
Also nominated in top 3 in 2014+2015
and ERP(AX) partner of the year in 2013

11. How does the transaction create value
11
• Create a full stack offering for Dynamics AX from advisory, to implementation and
operations (application and infrastructure)
• Will create an unmatched ERP power house in Denmark with a full stack value
proposition for the two market leading platforms - Microsoft and SAP - for larger
organizations. AX is a critical application – managing critical applications is a core NNIT
capability
• Supports Microsoft focused customers and their move into the cloud as part of their digital
transformation and creating the future digital workplace
Strong existing Microsoft portfolio
Office 365, Azure, SharePoint, Skype for Business, Power BI, BizTalk, Exchange Servers, SQL Server,
Windows Server, Windows Client OS, .Net
AX Advisory
Services
AX
Implementation
AX Application
outsourcing
AX
Infrastructure
outsourcing
Integrationto
adjacentsystems
SAP Advisory
Services
SAP
Implementation
SAP Application
outsourcing
SAP
Infrastructure
outsourcing
NNIT, a full stack ERP house
Offshoredelivery
NNITSCALE
S

12. Dynamics AX – an attractive market
12
• AX is increasingly being accepted as an
attractive option for larger enterprises
• Traditionally, Microsoft has had a strong
market position in the Danish ERP market
due to C5, Navision and AX
• Gartner predicts the Danish ERP software
market to grow plus 4% p.a. and we
expect the services market to grow in the
same range
• NNIT expects AX to outgrow the market
based on current market traction
• Worldwide, Dynamics has seen strong
growth. Dynamics products and cloud
services increased 10%
• Dynamics 365 growth was 81%
Source: Gartner, Microsoft quarterly reporting Calculation based on estimated ERP software sales in
Denmark assuming a constant 3:1 factor between
services and software licenses

13. DKK million Q1 2017 Q1 2016 Change
Revenue 715.3 662.6 8.0%
Cost of goods sold 581.7 532.1 9.3%
Gross profit 133.6 130.5 2.4%
Gross profit margin 18.7% 19.7% -1.1pp
Sales and marketing costs 32.9 32.9 -0.1%
Administrative expenses 27.9 27.7 0.5%
Operating profit 72.8 69.8 4.3%
Operating profit margin 10.2% 10.5% -0.4pp
Net financials -1.6 -4.3 n.a.
Profit before tax 71.2 65.5 8.7%
Tax 15.4 14.2 8.2%
Effective tax rate 21.6% 21.7% -0.1pp
Net profit 55.8 51.3 8.9%
Financial statement
13
Organic revenue growth of 8.0% compared to Q1 2016
Cost of goods sold increased by 9.3% compared to Q1
2016 mainly due to increase in costs of hardware for
infrastructure projects and onboarding of new
customers
Sales and marketing costs and administrative expenses
are flat compared to Q1 2016
Operating profit margin of 10.2%

14. DKKm Q1 2017 Q1 2016 Change
Life Sciences 414.4 392.6 5.6%
Hereof Novo Nordisk Group 322.2 310.7 3.7%
Hereof other Life Sciences 92.1 81.8 12.6%
Enterprise 150.5 109.6 37.4%
Public 84.2 100.7 -16.4%
Finance 66.3 59.8 10.8%
Total 715.3 662.6 8.0%
Novo Nordisk revenue increased by 3.7% due to
infrastructure projects with a high degree of hardware
with low margins.
Adjusted for the increased hardware revenue the
growth from the Novo Nordisk Group would have been
negative with 3.2%.
Life sciences revenue outside Novo Nordisk grew by
12.6% due to international growth.
Enterprise revenue grew by 37% driven by increased
revenue from new customers, which includes PANDORA
and Widex where the contracts were entered into in Q2
2016.
Public revenue decreased by 16.4%. The decline can be
explained by a settlement with a customer in the public
customer group within IT Operation Services. Besides
this price reductions in certain outsourcing contracts
impact revenue.
Finance revenue increased 10.8% primarily due to
contract wins with new customers such as E-nettet and
Danske Bank.
Segment development
14

15. IT Operations
Q1 revenue growth of 6.9%:
• Driven by new and existing large outsourcing
customers primarily within the enterprise and
finance segments
• The growth from the Novo Nordisk Group was
primarily driven by infrastructure projects with
a high degree of hardware. Adjusted for the
increased hardware revenue the growth in
revenue from the Novo Nordisk Group would
have been negative
Q1 operating profit margins decreased 1.5pp to
10.5% negatively impacted by Novo Nordisk
hardware projects with low margins, and onboarding
of new customers
15
DKKm Q1 2017 Q1 2016 Change
Revenue
Novo Nordisk Group 226.0 212.6 6.3%
Non-Novo Nordisk Group 242.6 226.0 7.4%
Total 468.7 438.6 6.9%
Costs 419.3 385.7 8.7%
Operating profit 49.3 53.0 -6.8%
Operating profit margin 10.5% 12.1% -1.5pp

16. IT Solutions
Q1 revenue growth of 10.1% compared to Q1 2016
where the Danish Easter holiday was in March. The
timing of the Danish Easter holiday impacts the
revenue growth with 4.5pp.
• Revenue from customers outside the Novo
Nordisk Group was driven by the enterprise and
life sciences customer groups
• Revenue from the Novo Nordisk Group
decreased 1.9% due to a drop in project
activities
Q1 operating profit margins increased 2.0pp to
9.5%:
• Comparison period was impacted by a provision
for loss on fixed price project in the public
customer group
• This is partly countered by a reduction in higher
margin project activities from the Novo Nordisk
Group
16
DKKm Q1 2017 Q1 2016 Change
Revenue
Novo Nordisk Group 96,2 98,1 -1,9%
Non-Novo Nordisk Group 150,5 125,9 19,5%
Total 246,6 224,0 10,1%
Costs 223,2 207,1 7,7%
Operating profit 23,5 16,8 39,4%
Operating profit margin 9,5% 7,5% 2pp

17. Hedging period
(months)
EUR DKK 34 million -
CNY DKK -18 million 14
CZK DKK -9 million 14
PHP DKK -4 million -
CHF DKK -2 million -
USD DKK -1 million -
*The above sensitivities address hypothetical situations and are provided for illustrative
purposes only. The sensitivities assume our business develops consistent with our current
2016 business plan.
Hedging gains and losses do not impact operating profit as they are recognized under net
financials.
Estimated annual impact on NNIT’s operating profit of a 10%
increase in the outlined currencies against DKK*
Currency development and hedging
17
USD and PHP have been
depreciating lately against the DKK,
while CNY, EUR and CZK all have
been relative flat vs. DKK.
CHF has continued the appreciation
against DKK.
We continued to have currency
tailwind from the CNY and PHP
compared to 2016. EUR and CZK
and are stable at 2016 level, while
USD and CHF increase provides
limited headwind.
Q1 2017 our operating profit
margin tailwind was 0.1pp
compared to 2016 exchange rates.

18. Net financials
DKKm Q1 2017 Q1 2016 Change
Net gains on Novo Nordisk shares* -0,6 -2,2 1,6
Dividends received from Novo Nordisk shares 0,2 0,5 -0,3
Total Novo Nordisk share related items -0,4 -1,7 1,3
Currency hedge gains -0,2 -1,7 1,5
Currency losses -0,4 -0,3 0,0
Total currency related items -0,5 -2,0 1,5
Interests and bank charges** -0,7 -0,6 -0,1
Total interests and bank charges -0,7 -0,6 -0,1
Net financials -1,6 -4,3 2,7
* Market value of Novo Nordisk shares less adjustment of obligation realted to long-term incentive programs from previous years.
** Includes fees to banks in relation to being a public listed company
Net Financial impact from Novo Nordisk share price
DKKm
Market
value Obligation Net
Full year 2017 (if the share price increase by 10%) 1.0 0.8 0.2
Full year 2017 (if the share price decrease by 10%) -1.0 -0.8 -0.2
Total Currency hedges
DKKm Q1 2017 Q1 2016 Change
Currency hedge gains in P&L -0.2 -1.7 1.5
Currency hedge gains on Equity 5.5 -5.4 10.9
Total currency hedge gains 5.4 -7.1 12.4
Net Financials
Net financials for Q1 2017 were DKK -
1.6m, which was DKK 2.7m better than
Q1 2016.
This was due to:
• Lower net losses on Novo Nordisk
shares held for management long-
term incentive program from before
2015 (DKK -0.4m) compared to Q1
2016 (DKK -1.7m)
• Lower losses on currency hedges
(DKK -0.5m) compared to Q1 2016
(DKK -2.0m) due to a more stable
development in exposed currencies
Interest and bank charges was DKK -
0.7m, which is in-line with Q1 2016
18

19. Employee development
Number of employees increased by 11.4% to
2,868 FTE end of March 2017 due to large
contract wins in H2 2016 such as PANDORA and
Widex.
Growth came primarily in China, the Czech
Republic and the Philippines:
• Increase of 224 FTE (22.9%) compared to
end of March 2016
Number of employees in western countries
increased 70 FTE (4.4%).
Share of employees in low cost countries
grew to 42.0% end of March 2017.
• Increase of 3.9 percentage-points
compared to March 2016
19
*Western countries: Denmark, Germany, Switzerland, United Kingdom,
United States

20. Assets
DKKm Q1 2017 Q1 2016
Intangible assets 32.9 25.6
Tangible assets 444.2 404.5
Deferred tax 44.8 51.1
Other financial assets 29.0 28.4
Total non-current assets 550.9 509.6
Inventories 2.4 2.4
Trade receivables 419.2 331.1
Work in progress 149.3 95.2
Other receivables and pre-payments 140.3 99.1
Tax receivables 3.8 0.0
Shares 10.0 27.1
Derivative financial instruments 5.3 0.4
Cash and cash equivalents 262.7 165.4
Total Current assets 993.1 720.7
Total assets 1,543.9 1,230.3
Balance sheet
20
Equity and liabilities
DKKm Q1 2017 Q1 2016
Share capital 250.0 250.0
Treasury shares -7.5 -7.5
Retained earnings 603.7 452.1
Other reserves 14.4 4.0
Total equity 860.5 698.6
Employee benefit obligation 19.1 27.3
Provisions 11.9 9.1
Total non-current liabilities 31.0 36.4
Prepayments received 169.0 90.5
Trade payables 138.7 50.5
Employee cost payable 227.5 220.2
Tax payables 0.0 1.1
Other current liabilities 103.3 112.3
Derivative financial instruments 0.4 6.6
Employee benefit obligation 11.3 9.1
Provisions 2.2 4.9
Total current liabilities 652.4 495.3
Total equity and liabilities 1,543.9 1,230.3

21. Cash flow
DKKm Q1 2017 Q1 2016 Change
Net profit for the period 55.8 51.3 4.5
Reversal of non-cash items 48.1 57.3 -9.1
Net interest and taxes paid -44.0 -32.0 -12.0
Changes in working capital 149.5 100.1 49.4
Cash flow from operating activities 209.5 176.7 32.8
Capitalization of intangible assets -1.6 0.0 -1.6
Purchase of tangible assets -68.4 -37.1 -31.3
Change in trade payables related to investments 2.6 -8.8 11.4
Sale of tangible assets 0.0 0.0 0.0
Dividends received 0.2 0.5 -0.3
Purchase of shares 0.0 0.0 0.0
Payment of deposits -0.2 0.0 -0.2
Cash flow from investing activities -67.4 -45.4 -22.0
Dividends paid -53.4 -97.0 43.7
Cash flow from financing activities -53.4 -97.0 43.7
Net cash flow 88.8 34.3 54.5
Free cash flow 142.2 131.3 10.8
Cash flows
Cash flow from operating activities was
DKK 210m, which was DKK 33m higher due
to positive development in working capital.
Cash flow from investing activities was
DKK -67m compared to DKK -45m in Q1
2016 due to investments primarily related
to a new datacenter.
Cash flow from financing activities was DKK
-53m compared to DKK -97m in Q1 2016
due to interim dividend payouts mid-year
2016.
Free cash flow was DKK 142m, which is
DKK 11m higher than Q1 2016.
Based on the strong cash flow NNIT expects
to pay out an interim dividend in August
2017 of DKK 48.5m in cash equal to DKK 2
per share of a nominal value of DKK 10
21

22. Constant currencies: Around 10%
Reported currencies: No impact
Share of revenue: 12-14%
Relating to new data center: 7pp or around
DKK 200m
Total data center investment: DKK 250m
Outlook
Revenue
growth
Capex
Operating
margin
2017
22
Previous guidance
Constant currencies: 4-8%
Constant currencies (organic): 1-5%
Reported currencies: No impact
Constant currencies: Around 10%
Reported currencies: 0.1pp higher
Share of revenue:
Share of revenue excl. SCALES:
16-18%
12-14%
Relating to new data center: 7pp or around
DKK 200m
Total data center investment: DKK 250m
Constant currencies: 1-5%
Constant currencies (organic): 1-5%
Reported currencies: 0.1pp higher

23. Closing remarks
• A solid financial performance in Q1 in-line with our expectations
• Strong growth in non-Novo Nordisk revenue
• Uncertainty in full-year Novo Nordisk revenue
• Renewal of major infrastructure agreement with Novo Nordisk serving as a
platform for the continued strategic cooperation between Novo Nordisk and
NNIT
• Bolt on acquisition of SCALES Group gives NNIT unmatched full stack
Dynamics AX capabilities to go with NNIT’s full stack SAP capabilities
• 2017 guidance of 4-8% revenue growth, 3pp coming from the SCALES
acquisition, and around 10% operating profit margin with an investment
level of 12-14% revenue
23

24. Investor contact information
24
Upcoming events
August 16, 2017: Interim report for the first six months of 2017
October 26, 2017: Interim report for the first nine months of 2017
Investor contact
NNIT A/S
Østmarken 3A
2860 Søborg
Denmark
Jesper Wagener
+45 3075 5392
jvwa@nnit.com